If you were Bush Now that the Iraqi war is coming to an end and we have put ourselves in debt up to our ears, with our finger crossed that the markets come back to pay for it. What happens if N. Korea takes us to task, we cannot afford another war and the markets will not recover with that kind of tension. Will we have shot our wad in Iraq only to become a paper tiger. Have we used our limited spending capacity wisely!
What do "the markets coming back" have to do for paying for this war. The level of deferred tax benefits investors have is in the 100's of billions. Any taxable gains will be offset "loss carry forwards".